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Equity | 3 Months Ended
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Mar. 31, 2021
Stockholders' Equity Note [Abstract] |
Equity | Note 11. Equity a. Stock-based compensation plans Stock-based compensation expenses for equity-classified stock options, restricted share units (“RSUs”) and performance-based restricted share units (”PSUs”) were allocated as follows:
|  | Three Months Ended
|  | March 31,
|  |  | 2021 |  |  |  | 2020 |
|  | U.S $ in thousands
Cost of sales |  | $ | 634 |  |  | $ | 402 |
Research and development, net |  |  | 1,424 |  |  |  | 1,556 |
Selling, general and administrative |  |  | 5,147 |  |  |  | 2,949 |
Total stock-based compensation expenses |  | $ | 7,205 |  |  | $ | 4,907 |
A summary of the Company’s stock option activity for the three months ended March 31, 2021 is as follows:
|  |  | Number of Options |  |  |  | Weighted Average Exercise Price |
Options outstanding as of January 1, 2021 |  | $ | 2,102,529 |  |  | $ | 28.06 |
Granted |  |  | 46,366 |  |  |  | 3.15 |
Exercised |  |  | (137,220 | ) |  |  | 21.01 |
Forfeited |  |  | (13,439 | ) |  |  | 36.26 |
Options outstanding as of March 31, 2021 |  |  | 1,998,236 |  |  |  | 27.91 |
Options exercisable as of March 31, 2021 |  | $ | 1,619,049 |  |  | $ | 30.82 |
As of March 31, 2021, the unrecognized compensation cost of $3.4 million related to all unvested, equity-classified stock options is expected to be recognized as an expense over a weighted-average period of 3.3 years. A summary of the Company’s RSUs and PSUs activity for the three months ended March 31, 2021 is as follows:
|  |  | Number of RSUs and PSUs |  |  |  | Weighted Average Grant Date Fair Value |
Unvested as of January 1, 2021 |  | $ | 2,801,116 |  |  | $ | 21.08 |
Granted |  |  | 1,201,186 |  |  |  | 34.62 |
Vested |  |  | (533,533 | ) |  |  | 22.56 |
Forfeited |  |  | (110,731 | ) |  |  | 20.69 |
Unvested as of March 31, 2021 |  | $ | 3,358,038 |  |  | $ | 25.70 |
The fair value of RSUs and PSUs is determined based on the quoted price of the Company’s ordinary shares on the date of the grant. As of March 31, 2021, the unrecognized compensation cost of $76 million related to all unvested, equity-classified RSUs and PSUs is expected to be recognized as expense over a weighted-average period of 2.7 years. b. Accumulated other comprehensive loss The following tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the three months ended March 31, 2021 and 2020, respectively:
|  | Three Months Ended March 31, 2021
|  |  | Net Unrealized Gain (Loss) on Cash Flow Hedges |  |  |  |  | Foreign Currency Translation Adjustments |  |  |  |  | Total |
|  | U.S. $ in thousands
Balance as of January 1, 2021 |  | $ | (1,673 | ) |  |  | $ | (7,173 | ) |  |  | $ | (8,846 | )
Other comprehensive income (loss) before reclassifications |  |  | 1,607 |  |  |  |  | (961 | ) |  |  |  | 646 |
Amounts reclassified from accumulated other comprehensive loss |  |  | 566 |  |  |  |  | - |  |  |  |  | 566 |
Other comprehensive income (loss) |  |  | 2,173 |  |  |  |  | (961 | ) |  |  |  | 1,212 |
Balance as of March 31, 2020 |  | $ | 500 |  |  |  | $ | (8,134 | ) |  |  | $ | (7,634 | )
|  | Three Months Ended March 31, 2020
|  |  | Net Unrealized Gain (Loss) on Cash Flow Hedges |  |  |  |  | Foreign Currency Translation Adjustments |  |  |  |  | Total |
|  | U.S. $ in thousands
Balance as of January 1, 2020 |  | $ | (10 | ) |  |  | $ | (7,706 | ) |  |  | $ | (7,716 | )
Other comprehensive income (loss) before reclassifications |  |  | 849 |  |  |  |  | (1,954 | ) |  |  |  | (1,105 | )
Amounts reclassified from accumulated other comprehensive loss |  |  | (27 | ) |  |  |  | - |  |  |  |  | (27 | )
Other comprehensive income (loss) |  |  | 822 |  |  |  |  | (1,954 | ) |  |  |  | (1,132 | )
Balance as of March 31, 2020 |  | $ | 812 |  |  |  | $ | (9,660 | ) |  |  | $ | (8,848 | )
c. Public offering of ordinary shares During March 2021, the Company completed a capital raise of $218.9 million, net of underwriting discounts and offering expenses. The total number of shares sold by the Company in the public offering was 7,931,034. A deferred tax asset in an amount of $1.2 million was recorded in respect of a tax benefit, arising from the underwriting discounts and offering expenses, as an increase to Additional Paid-In Capital.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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